COMMON SENSE

INNOVATION, COMPETITION, LOWER PRICES AND CONSUMER CHOICE

? A Modest Tribute to America for Veterans Day

The publication “Common Sense” influenced popular opinion of citizens during America’s original quest for freedom and choice.? In the mid-1770’s the original 13 American colonies were controlled socially, politically, militarily and economically by the British Empire…a monarchy conducted as a self-serving monopoly…restricting Colonial Americans' choice in every aspect of their lives.?

?In January 1776 patriot Thomas Paine, philosopher, inventor and founding father, wrote a “pamphlet” entitled “Common Sense” which encouraged independent thinking: advocating the rejection of Britain’s monopoly…allowing for Americans to independently exercise freedom of choice.?

?Common Sense became the most influential publication of its time, strongly advocating independence from the British monopoly.? On July 4, 1776 America citizens of the 13 original colonies changed history by electing Congressional representatives to act in the interest of the people…rejecting entirely the concept of following laws forced upon the colonies by a distant and foreign monopoly, which restricted choice.?

Common Sense led directly to the Declaration of Independence.? In embracing independence from the status quo, and by rejecting the monopoly, the United States of America was borne.? This birth gave rise to freedom, innovation, competition, better products, lower prices and popular choice.?

Six years following the signing of the Declaration of Independence, the American colonies defeated Britain, the most powerful military in the world.? Every signor of the Declaration of Independence attributed victory and freedom, to Paine’s Common Sense, which motivated popular opposition to a lack of choice, imposed by a monopoly.

Today, Americans face a monopoly dictating control over every major transaction they make; that of purchasing their home.? The monopoly is the real estate title insurance industry, which restricts the choice all Americans deserve; to simply select the manner in wish they choose to purchase and close their real estate transaction.

The title insurance monopoly is powerful indeed.? Four corporate conglomerates control nearly 90% of an annual $30 Billion “insurance” business…in which the monopoly incredibly pays less than 3% in citizen claims.

Important to this story is that the American Government, primarily FHFA, FHA, HUD and VA ensure alternatives to Americans, through Government Sponsored Enterprises (GSEs) Freddie Mac and Fannie Mae, which provide innovation, competition, lower prices and consumer choice.?

Alternatives to title insurance were authorized by Fannie Mae’s April 2022 "Lender Seller Guide", its July 2023 “Equitable Housing Finance Program”, and its December 2023 “Expanded Use of Attorney Opinion Letters”.

The year 2025 is the ideal time for all Americans to exercise Common Sense in awareness and education…asking questions of Lenders and Realtors…to evaluate real estate industry alternatives available to all citizens of the United States.

?The author is Theodore Sprink, Founder and CEO of iTitleTransfer, LLC, a provider of consumer choice.? Sprink can be contacted at [email protected] or 866-494-3727.